SMRs: A Sustainable Energy Solution with Policy and Learning Support Needed
Interest in small modular nuclear reactors (SMRs) is growing as tech giants like Google, Amazon, and Microsoft invest in this low-carbon energy technology. These reactors could help meet emissions targets and rising energy demands. However, the U.S. has not yet activated its first SMR, and obstacles remain regarding cost and complexity.
University of Michigan research indicates SMRs could be economically viable by 2050, significantly reducing emissions. “While expensive and challenging, SMRs do have the potential to be deployed,” said Max Vanatta, a study author and U-M doctoral student. By 2050, SMRs could cut annual U.S. carbon emissions by up to 59 million metric tons with necessary support from policy and industry.
Projects Not Products
Nuclear power integrates with the existing grid similarly to fossil fuels, but each nuclear facility is unique. “Nuclear reactors aren’t products like we think about other technologies,” said Robb Stewart of Alva Energy. They resemble construction projects involving specialized components. SMRs are smaller, modular versions of these projects, producing about 30% the power of conventional plants but can be located on-site.
How to Make SMRs Competitive
For SMRs to be competitive, natural gas must cost $6+ per MMBtu. Policy incentives like tax credits and carbon taxes greatly impact development, unlike direct subsidies. Learning from building and installing SMRs can reduce future costs. This model could benefit other emerging technologies, especially in the low-carbon energy sector, said Stewart.
Conventional plants currently offer about 100 gigawatts of power capacity in the U.S., with the potential for SMRs to add over 20 gigawatts in the best-case scenario. According to Vanatta, “It’s going to take everything, but it’s all in the service of reliable, low-carbon energy.”
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